Weakening sentiment sends further pressure to seaborne manganese ore market

Lingering weakness in market sentiment continued to put downward pressure on seaborne low- and high-grade manganese ore prices in China in the week to Friday October 9.

Chinese participants began to return to the market on Friday after the Golden Week national holiday on October 1-8.
Fastmarkets’ manganese ore index, 37% Mn, cif Tianjin was $4.10 per dry metric tonne unit (dmtu) on Friday October 9, down by 11 cents, or 2.6%, from $4.21 per dmtu a week before.
The corresponding manganese ore index, 37% Mn, fob Port Elizabeth also dropped by 11 cents, or 3.1%, to $3.41 per dmtu on the same day, from $3.52 per dmtu in the prior week.
And Fastmarkets’ manganese ore index, 44% Mn, cif Tianjin was $4.34 per dmtu on October 9, down by 6 cents, or 1.4% from $4.40 per dmtu previously.

Many buyers of lower grade manganese ore either took a watchful stance or bid aggressively in response to an offer price released at the...

Published

Jon Stibbs

Amy Lv

October 12, 2020

14:19 GMT

London, Shanghai